Vedanta demerger stocks rise as much as 5%; Iron and Steel leads with 28% gain since Monday listing

Vedanta’s four demerged companies listed on Monday, with Vedanta Iron and Steel up 28% over five sessions and last trading at Rs 25.57, taking its market capitalisation close to Rs 10,000 crore. The aluminium, oil and gas, and power units have moved in different directions since debut, with aluminium down about 12%, oil and gas down around 13.5%, and power slightly higher. Analysts said interest has centred on steel on expectations of a more constructive cycle, while oil and gas is weighed by maturing fields and a tougher crude backdrop.